Singapore 5g rollout

- A + A SINGAPORE (Aug 9): Cryptocurrency investment is "highly hazardous" but meltdowns in the sector have not created financial-stability risks for Singapore, regulators in the city-state said after another digital-asset firm ran into trouble. The Monetary Authority of Singapore (MAS) has rescinded its in-principle approval for crypto lender Hodlnaut to obtain a licence to provide digital payment token services under the Payment Services Act, an MAS spokesperson said in an emailed statement on Tuesday. That came after Hodlnaut told MAS of its intention to withdraw its application amid its halt in customer withdrawals announced on Monday. It had been one of the few firms granted in-principle approval by MAS under the Act. "MAS has been continually reminding the general public that dealing in cryptocurrency is highly hazardous," the regulator's spokesperson said in response to an inquiry about Hodlnaut's situation. "Not only are the values of cryptocurrencies … [Read more...] about Singapore regulator reiterates crypto dangers amid Hodlnaut woes

- A + A (Aug 9): Micron Technology Inc said it will use “anticipated” government grants and credits to help it invest US$40 billion by the end of the decade to build out US semiconductor manufacturing capacity. The company expects to begin to produce chips after 2025 and said it will create as many as 40,000 jobs, the Boise, Idaho-based memory manufacturer said in a statement on Tuesday. The investment is being funded with subsidies it believes it will be awarded from the Chips and Science Act, Micron said. The spending plan is part of the company’s previously announced US$150 billion global investment goal, which it detailed last year. President Joe Biden is expected to sign the chips act into law on Tuesday as part of a package of spending and tax reforms. Most of Micron’s production is done in Japan, Singapore and Taiwan. “Micron’s domestic leading-edge manufacturing capabilities will ensure US national security and supply chain resilience as demand for memory … [Read more...] about Micron to invest US$40b by 2030 to build US memory plants

- A + A KUALA LUMPUR (Aug 9): Apple has partnered with Ambank, Maybank and Standard Chartered Malaysia to offer its mobile payment services to Malaysian customers. “Customers with Visa and Mastercard cards from banks including AmBank, Maybank and Standard Chartered Bank can now use Apple Pay, with American Express cards to be available with Apple Pay later this year,” the consumer electronic company announced on its website on Tuesday (Aug 9). "Merchants such as KFC, Maxis, Machines, McDonald’s, Mydin, Pizza Hut, Starbucks, U Mobile, Uniqlo, Village Grocer and Watsons — and apps and websites including Shopee, Sephora, Atome and Adidas — now offer customers the ability to pay with Apple Pay." Apple’s vice president of Apple Pay and Apple Wallet Jennifer Bailey said the company is delighted to bring Apple Pay to Malaysia, providing an easier, safer and more secure way to pay with iPhone, Apple Watch, iPad and Mac. “Our customers in Malaysia will benefit from using … [Read more...] about Apple jumps onto Malaysia’s mobile payment bandwagon

This article first appeared in The Edge Malaysia Weekly, on August 1, 2022 - August 07, 2022. - A + A WILL it be third time’s the charm for Jardine Cycle & Carriage Ltd, which launched yet another unconditional takeover offer for Cycle & Carriage Bintang Bhd (CCB) on July 14? Jardine’s bid to acquire the rest of the shares in CCB that it does not already own — at an offer price of RM2.70 per share — marks its third attempt at making CCB a fully owned subsidiary. As with the first two exercises, the current offer is expected to fall short, because even though it is higher than the previous offers of RM2.20 per share followed by another at RM2.40, it is still far from the RM4.65 enterprise value (EV) that the main dissenting shareholder Datuk David Goh contends it is worth. In an exclusive interview with The Edge in July last year, Goh said that the underlying value of CCB — one of the largest Mercedes-Benz dealerships in the country — was at … [Read more...] about Suspense over Jardine’s third attempt at CCB privatisation

Supporters await a convoy carrying US House Speaker Nancy Pelosi outside the Grand Hyatt hotel in Taipei, Taiwan, on Tuesday, Aug 2, 2022. US House Speaker Nancy Pelosi landed in Taiwan on Aug 2 evening, in defiance of Chinese threats, a trip that would make her the highest-ranking American politician to visit the island in 25 years. - A + A (Aug 9): House Speaker Nancy Pelosi’s swing through Asia aimed to convey the US’s “strong and unshakable” support for the region. It ended up leaving many countries in stunned silence, as China conducted unprecedented military drills around Taiwan. The shockwaves from the highest-level US visit to Taiwan in a quarter century are still reverberating around the region days after she flew back to Washington. China’s military has extended exercises designed to show an ability to encircle the island and cut off the Taiwan Strait, one of the world’s busiest trade routes, days after launching missiles that likely flew over Taipei … [Read more...] about Pelosi trip hinders Biden effort to galvanize Asia against China

- A + A KUALA LUMPUR (Aug 9): The Malaysian Plastics Manufacturers Association (MPMA) call on the government to expeditiously ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to enable the plastics industry in Malaysia to reap the benefits of the agreement. President Datuk Lim Kok Boon said MPMA fully supports the ratification of the CPTPP, as manufacturers of plastic products are expected to gain from the elimination of tariffs, as well as gain new market access. “I anticipate that CPTPP will open market access to Canada, Mexico and Peru for plastics exporters. All three countries are net importers of plastic products. “The tariff for plastic products will be eliminated immediately from a maximum of 6.5% for Canada upon Malaysia’s ratification, while the 15% tariff for Mexico and 9% tariff for Peru will be reduced gradually over a period of 10 years,” he said in a statement on Tuesday (Aug 9). He said demand for plastic … [Read more...] about MPMA calls on govt to expedite the ratification of CPTPP

Supporters await a convoy carrying US House Speaker Nancy Pelosi outside the Grand Hyatt hotel in Taipei, Taiwan, on Tuesday, Aug 2, 2022. US House Speaker Nancy Pelosi landed in Taiwan on Aug 2 evening, in defiance of Chinese threats, a trip that would make her the highest-ranking American politician to visit the island in 25 years. - A + A (Aug 9): House Speaker Nancy Pelosi’s swing through Asia aimed to convey the US’s “strong and unshakable” support for the region. It ended up leaving many countries in stunned silence, as China conducted unprecedented military drills around Taiwan. The shockwaves from the highest-level US visit to Taiwan in a quarter century are still reverberating around the region days after she flew back to Washington. China’s military has extended exercises designed to show an ability to encircle the island and cut off the Taiwan Strait, one of the world’s busiest trade routes, days after launching missiles that likely flew over Taipei … [Read more...] about Pelosi trip hinders Biden effort to galvanise Asia against China

New Zealand Foreign Affairs Minister Nanaia Mahuta responds to queries during the Question-and-Answer session of the Foreign Policy for Small States lecture series, organised by the Institute of Diplomacy and Foreign Relations (IDFR) at the IDFR Auditorium in Kuala Lumpur on Tuesday, Aug 9, 2022. (Bernama pix) - A + A KUALA LUMPUR (Aug 9): Malaysia and New Zealand are a powerful demonstration of how small states can work together bilaterally, regionally and globally in dealing more effectively with the current global and regional geopolitical challenges, New Zealand’s Foreign Minister Nanaia Mahuta said. Both countries served together on the United Nations (UN) Security Council in 2015-16 and worked closely in another area, disarmament and arms control. “We also cooperate on international law issues, including the UN Convention on the Law of the Sea.  Last year New Zealand joined others in setting out our legal position on the South China Sea, in support of … [Read more...] about Malaysia and New Zealand have demonstrated how small states can work together

Representative Image. (PC-AFP) The Chinese military, for the last week, has carried out military exercises involving missile strikes, warplanes, and ship movements crossing the midline of the Taiwan Strait. As a response, Taiwan's military also began a live-fire artillery drill simulating a defense of the island against an attack after days of massive Chinese military exercises. All the while, international cargo traffic in the Strait of Taiwan has been hit and ships are looking at alternate routes. "The number of shipping vessels operating in the Taiwan Strait has dropped from around 250 a day to just 15-20 ships a day, after the Chinese military blocked six zones in the Strait," a trader based out of Singapore told Moneycontrol. He added that many shipping lines were even cutting short scheduled loadings for importers across Asia. Close The Chinese government has been firing missiles across the Taiwan Strait in protest of a visit by US House … [Read more...] about MC Explains: How Chinese military drills around Taiwan will disrupt global shipping

Trixie Bianca Jasmine (The Jakarta Post) PREMIUM Jakarta   ● Wed, August 10, 2022 For the past decades, financial inclusion has been a jargon often tossed around as a boast by world organizations. As the host of the 2022 Group of 20, the Indonesian government is committed to pushing forward financial inclusion in this country to accelerate the global agenda. Financial inclusion aims at providing affordable financial services that will include the poor in the formal economy (United Nations, 2016). World Bank (2022) also stated that financial inclusion is the key to reducing extreme poverty. As seen, world organizations keep bringing this forward to be actualized in developing countries without acknowledging the true reasons why these countries lack financial inclusion in the first place. to Read Full Story SUBSCRIBE NOW Starting from IDR 55,500/month Unlimited access to our web and app content e-Post daily digital newspaper No … [Read more...] about Why financial inclusion is still not relevant yet to Indonesia’s current circumstances